It’s been a wild ride for methane regulations in the U.S., and the latest chapter came onThursday when Congress officially overturned the Environmental Protection Agency’s (EPA) methane fee, a major piece of the Biden administration’s emissions-reduction efforts.
Analyst Insights
Analyst Insights are unique perspectives provided by RBN analysts about energy markets developments. The Insights may cover a wide range of information, such as industry trends, fundamentals, competitive landscape, or other market rumblings. These Insights are designed to be bite-size but punchy analysis so that readers can stay abreast of the most important market changes.
By Martin King - Friday, 2/28/2025 (2:30 pm)
For the week ending February 28, Baker Hughes reported that the Western Canadian gas-directed rig count rose one to 71 (blue line and text in left hand chart below), 16 less than one year ago and at the bottom of the five-year range.
By Jason Lindquist - Friday, 2/28/2025 (12:15 pm)
Report Highlight: Hydrogen Billboard
There was plenty of speculation about whether the long-delayed rules around the 45V tax credit for clean hydrogen production, which were published in the waning days of the Biden administration after more than two years of debate, would be at risk of reversal by the Republican-led Congress under
By Kristen Holmquist - Friday, 2/28/2025 (9:00 am)
MPLX announced on February 28 that it will acquire the remaining 55% interest on the BANGL pipeline from WhiteWater and Diamondback Energy for $715 million. The deal includes earnout payments from MPLX should the asset achieve specific performance metrics. This deal is being done to further advan
By Martin King - Thursday, 2/27/2025 (1:45 pm)
Western Canada’s propane inventories at the end of January (red circle in left hand chart below) were posted at 3.2 MMbbl, with a larger than average decline of 1.5 MMbbl versus December and stand 0.7 MMbbl (-17%) below the five-year average (blue line) according to data from the Canada Energy Re
By Jason Lindquist - Wednesday, 2/26/2025 (1:45 pm)
Report Highlight: Hydrogen Billboard
Air Products has canceled plans to build a green hydrogen project in Massena, NY, citing recent regulatory developments, the company announced Tuesday.
By Christine Groenewold - Wednesday, 2/26/2025 (1:30 pm)
Report Highlight: U.S. Propane Billboard
The EIA reported total U.S. propane/propylene inventories had a withdrawal of 3.7 MMbbl for the week ended February 21, which was on par with industry expectations and more than the average draw for the week of 2.2 MMbbl. Total U.S.
By Martin King - Wednesday, 2/26/2025 (12:30 pm)
Combined natural gas production of the equity partners in LNG Canada is estimated to be 2.21 Bcf/d in January 2025 (combined height of the rightmost colored bars in chart below), a slight drop from 2.25 Bcf/d recorded in December, and 0.21 Bcf/d higher than one year ago.
By Adam Baker - Tuesday, 2/25/2025 (3:00 pm)
Report Highlight: Crude Voyager
Very Large Crude Carrier (VLCC) loadings dropped to 31 in January (far-right column in chart below), continuing a slight downward trend over the past three months and down from 39 loadings in July 2024.
By Martin King - Tuesday, 2/25/2025 (3:00 pm)
Report Highlight: Canadian Natgas Billboard
Canadian natural gas demand posted a new single day record on February 18 at 19.10 Bcf (blue text and arrow in chart below) as February’s nationwide cold snap reached its peak.
By Christine Groenewold - Tuesday, 2/25/2025 (9:45 am)
Report Highlight: Chart Toppers
The frac spread has decreased slightly this month, settling at approximately $4.40/MMBtu. This represents a 24% decline compared to February 2024.
By Lisa Shidler - Tuesday, 2/25/2025 (9:30 am)
Report Highlight: LNG Voyager
Cheniere said it exported its first LNG cargo from Corpus Christi Stage III earlier this month, and anticipates making construction improvements throughout the year.
By John Abeln - Monday, 2/24/2025 (3:15 pm)
Report Highlight: NATGAS Permian
Overall outflows of gas from the Permian Basin were down 0.76 Bcf/d, driven by the midweek freeze offs, with outflows on all routes except to Mexico down week-on-week. Outflows to the East averaged 11 Bcf/d, down 0.77 Bcf/d week-on-week.
By Taylor Noland - Monday, 2/24/2025 (12:30 pm)
Report Highlight: Crude Oil Permian
Permian Basin crude oil flows to Houston extended their recovery in September (see blue line on the chart below), rebounding from the sharp decline in June — the lowest volume since September 2023 — according to the latest monthly data from the Texas Rail
By Martin King - Monday, 2/24/2025 (12:00 pm)
Report Highlight: TradeView Report
Last week, the price differential for crude oil that is shipped from the heart of the Permian Basin in West Texas to the Midland, TX hub (the “true” WTI) reached a high of $1.53/bbl (green dashed circle in chart below).
By RBN Team - Monday, 2/24/2025 (10:00 am)
Compared to last winter, this year natural gas prices have soared. As shown in the left graph below, in 2024, February 21 natural gas settled at $1.77/MMbtu (green oval) while on the same day this year (Friday) the gas price came in at $4.15 (red oval), an increase of $2.38/MMbtu. Has there be
By Jeremy Meier - Friday, 2/21/2025 (3:15 pm)
US oil and gas rig count climbed to its' highest level since June 2024, adding four rigs and climbing to 592 for the week ending February 21 according to Baker Hughes. This week's gains were driven by a significant increase in the Anadarko, which added five rigs, while Appalachia added one rig.
By Martin King - Friday, 2/21/2025 (12:30 pm)
For the week ending February 21, Baker Hughes reported that the Western Canadian gas-directed rig count fell one to 70 (blue line and text in left hand chart below), 20 less than one year ago and holding just below the five-year range.
By Jason Lindquist - Friday, 2/21/2025 (9:30 am)
Report Highlight: Hydrogen Billboard
Australia’s Fortescue may adjust the timeline for its $550 million green hydrogen project in Arizona as it assesses the change in U.S. energy policy under the Trump administration, CEO Mark Hutchinson said during the company’s earnings call Thursday.
By Martin King - Thursday, 2/20/2025 (2:45 pm)
Report Highlight: Canadian Natgas Billboard
Natural gas storage activity in Canada’s two largest gas storage regions of Alberta and Ontario have been experiencing very strong withdrawals during the month of February.
